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According to a latest market report by Emergen Research, the global Quantum Cascade Laser (QCL) Market is expected to reach USD 451.3 Billion by 2027, growing at a CAGR of 3.8%. Quantum cascade laser finds its application in free-space communication, spectroscopy, and missile countermeasures. The rise in demand for lightweight, compact, and low-power consuming devices that have the ability to operate at room temperature in mid-infrared wavelength will propel the demand for the market.
QCL finds abundant applications in the development of advanced innovative healthcare equipment. QCL infrared spectroscopic imaging is used to identify tissue in real-time. This is particularly helpful in liver biopsy. QCL is also used to develop a device for breath analysis. The market technology is also used in the trace-gas analysis for explosives detection, industrial process control, and environmental monitoring, among others.
Another important factor driving the adoption of the product is its application in chemical detection and gas sensing in the military and defense industry. An increase in the expenditure on the defense sector will facilitate a high level of research and development for efficient technologies.
Key Highlights from the Report:
- The Fabry-Perot technology is expected to grow with the highest CAGR as it is the cost-effective simplest quantum cascade laser used in high-power devices owing to its high-power ability.
- The continuous-wave mode is anticipated to grow with a CAGR of 4.2% during the forecast period. The high growth is due to its usage in devices as it offers continuous waves without any delay in time.
- The telecommunication segment will hold a significant share and is among the primary end-user of the market. The deployment of QCL in telecommunication will propel the demand for the device in free-space optical communication applications.
- North America dominated the market for QCL owing to its application in healthcare and military sectors. Moreover, the presence of key market players will also propel the demand for the product. The region held a market share of 56.5% in the year 2019.
- Key participants include Wavelength Electronics, Inc., Thorlabs, Inc., Block MEMS, Hamamatsu Photonics K.K., Mirsense, Alpes Lasers SA, Akela Laser Corporation, Nanoplus Nanosystems and Technologies GmbH, Emerson Electric Corporation, and Adtech Optics., among others.
For the purpose of this report, Emergen Research has segmented into the Global Quantum Cascade Laser (QCL) market on the basis of fabrication technology, packaging type, mode of operation, end-user, and region.
Click here to read/download the full report.
